ResMed Inc. (NYSE:RMD) Shares Sold by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC trimmed its holdings in ResMed Inc. (NYSE:RMD) by 38.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,515 shares of the medical equipment provider’s stock after selling 2,845 shares during the period. Terra Nova Asset Management LLC’s holdings in ResMed were worth $777,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of ResMed by 15.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock worth $740,000 after purchasing an additional 414 shares during the last quarter. Cibc World Market Inc. increased its position in shares of ResMed by 13.0% during the first quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock valued at $243,000 after acquiring an additional 115 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of ResMed by 14.5% in the 1st quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock valued at $2,020,000 after acquiring an additional 1,025 shares during the period. Sei Investments Co. lifted its holdings in shares of ResMed by 7.8% in the 1st quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock worth $9,781,000 after acquiring an additional 2,955 shares during the last quarter. Finally, Prudential PLC purchased a new position in shares of ResMed during the 1st quarter worth approximately $694,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp initiated coverage on ResMed in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price on the stock. UBS Group lifted their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Needham & Company LLC boosted their price target on shares of ResMed from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada upped their target price on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.30.

Insider Activity at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 over the last ninety days. Insiders own 1.21% of the company’s stock.

ResMed Trading Up 0.9 %

NYSE:RMD opened at $198.04 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $243.52. The stock has a market cap of $29.13 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.43 and a beta of 0.65. The stock has a 50-day simple moving average of $185.35 and a 200-day simple moving average of $165.60.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company posted $1.66 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that ResMed Inc. will post 7.45 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 0.97%. ResMed’s dividend payout ratio is currently 31.74%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.